Feed aggregator
UK banks halt dividends as coronavirus slowdown looms
Barclays , Royal Bank of Scotland and the British arm of Spain's Santander , said on Tuesday they would suspend dividend payments, saving their capital as a buffer against expected losses from the economic fallout from the coronavirus.
Categories: Reuters
UniCredit says top managers to forego entire 2020 bonus pay
Italy's biggest bank by assets, UniCredit SpA , said on Tuesday its top managers had decided to waive their entire 2020 bonus pay and that the bank would donate an equivalent amount to the UniCredit Foundation to support social initiatives.
Categories: Reuters
Oil ends March with biggest monthly and quarterly losses ever
Crude oil benchmarks ended a volatile quarter with their biggest losses in history, as both U.S. and Brent futures were hammered throughout March on the global economic freeze due to the coronavirus pandemic and the eruption of a price war between Russia and Saudi Arabia.
Categories: Reuters
Some Whole Foods workers call for 'sick out'
A group of workers at Whole Foods Market called on others to phone in sick at all of the grocer's stores on Tuesday to protest what they say is a lack of adequate compensation and protections from the coronavirus.
Categories: Reuters
Architect of Trump tax cut may run $500 billion coronavirus loan program
U.S. Deputy Treasury Secretary Justin Muzinich, an architect of the sweeping 2017 Republican tax cut, is under consideration to oversee a newly created $500 billion coronavirus rescue loan program for large companies, cities and states, two sources familiar with the agency's plans said.
Categories: Reuters
Special Report: The Mask Middlemen - How pop-up brokers seek big paydays in a frenzied market
Brian Kolfage, a Florida military veteran, recently convinced Americans to donate millions of dollars for a privately built wall on the U.S. southern border. Now he has jumped into a new venture: hawking millions of protective face masks that are in critically short supply during the coronavirus pandemic.
Categories: Reuters
Trump holds call with U.S. internet, mobile phone providers
President Donald Trump spoke with the biggest U.S. internet and mobile phone providers on Tuesday to talk about how the networks are holding up as tens of millions of Americans work from home.
Categories: Reuters
SocGen, Natixis skip 2019 dividends, may consider payments in second half
French banks, Societe Generale and Natixis joined a cohort of European peers that announced plans to skip 2019 dividends following the European Central Bank's guidance to direct profits toward supporting the economy during the coronavirus crisis.
Categories: Reuters
S&P 500 heads for biggest ever first-quarter plunge
Wall Street's major indexes fell on Tuesday and the S&P 500 was headed for a record first-quarter decline on growing evidence of large-scale economic damage from the coronavirus pandemic.
Categories: Reuters
U.S. court rules for Teva in migraine patent dispute with Eli Lilly
Teva Pharmaceutical Industries Ltd on Tuesday won a ruling from a U.S. administrative court that could help it fend off competition from Eli Lilly and Co in the market for migraine drugs.
Categories: Reuters
Fed will do 'whatever it takes' to help U.S. economy likely in recession, Daly says
The Federal Reserve is ready to do more to help a U.S. economy ground to a sudden halt as businesses shutter and people stay home to slow the coronavirus pandemic, San Francisco Fed President Mary Daly said on Tuesday.
Categories: Reuters
Goldman gives staff 10 days paid family leave due to coronavirus: memo
Wall Street bank Goldman Sachs is offering employees 10 days of paid family leave to care for children or elderly parents who are at home during the coronavirus pandemic, according to a memo sent to staff on Tuesday that was seen by Reuters.
Categories: Reuters
Stocks give up gains, on pace for worst quarter since 2008
Global stock markets dipped in volatile trading on Tuesday as investors assessed the economic damage from the coronavirus pandemic, while the MSCI benchmark of world equities was on pace to finish its worst quarter since the financial crisis of 2008.
Categories: Reuters
Billionaire investor Steve Cohen: 'After an earthquake there are tremors'
Billionaire trader Steven A. Cohen is cautioning the staff of his investment firm, Point72 Asset Management, to remain cautious amid markets that have recovered slightly from coronavirus-driven lows.
Categories: Reuters
Trump to hold call with U.S. internet, mobile phone providers
President Donald Trump is holding a call with seven of the biggest U.S. internet and mobile phone providers on Tuesday to talk about how the networks are holding up as tens of millions of Americans work from home.
Categories: Reuters
Oil steady on U.S.-Russia energy talks but still near 18-year lows
Oil prices steadied on Tuesday, with the U.S. crude benchmark climbing off 18-year lows after U.S. President Donald Trump and Russian counterpart Vladimir Putin agreed to talks on stabilizing energy markets.
Categories: Reuters
Exclusive: American Airlines to retire more jets, including vintage 737s, in coronavirus downturn
American Airlines Group Inc is set to sharply increase the number of jets it is planning to retire beyond its announced plans as it accelerates a fleet transformation to respond to the coronavirus crisis, people familiar with the matter said.
Categories: Reuters
U.S. dollar rises, but off highs, as Fed measures weigh
The dollar rose against the euro and the Swiss franc on Tuesday but was off its highs, modestly pressured by the weight of Federal Reserve measures meant to ensure there was enough liquidity in the global financial system.
Categories: Reuters